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In existing global software development (GSD) literature, much focus has been on identifying the challenges that practitioners may face (such as socio-cultural and temporal distance issues), while potential benefits have not been extensively analyzed. We reverse this trend by studying these potential benefits. We question whether they are well-founded assumptions and whether they are attainable in practice. This paper presents findings from a multi-case study at three multi-national companies that have extensive experience in GSD. We identify the benefits mentioned in GSD literature, analyze them with regards to the companies' experiences and then conclude whether or not each benefit is being realized in practice. Our findings reveal that the realization of the assumed benefits cannot be simply taken for granted